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IEA cuts 2020 oil demand forecast by 140,000 bpd over aviation sector woes

The Paris-based IEA slashed its 2020 outlook by 140,000 bpd to 91.9 million bpd, its first downgrade in several months

Lenovo sails past expectations with 31% first-quarter profit jump

Consumers stuck at home are also spending more on PCs and other smart devices for entertainment purposes, the Chinese giant said

Zydus Cadila launches India's 'cheapest' remdesivir at Rs 2,800 per vial

Zydus is the fifth company to launch a copy of the antiviral in India after privately held Hetero Labs Ltd, Cipla, Mylan NV and Jubilant Life Sciences Ltd

ByteDance in talks with Reliance for investment in TikTok: Report

The government in June banned 59 Chinese apps, including TikTok and WeChat, for threatening its "sovereignty and integrity" after border tensions with China

China extends anti-dumping tariff on Indian fibre optic product for 5 years

China previously slapped an anti-dumping tariff on the same Indian product for five years until mid-August of 2019 and then had a review of the case

US economic recovery to be muted until Covid is contained: Fed officials

Consumer spending will probably remain weak relative to the past as people avoid activities that require high levels of social interaction for health reasons, Boston Fed President Eric Rosengren said

US leaves tariff on Airbus unchanged at 15%, on other European goods at 25%

The United States declared itself in full compliance with WTO findings in May after Washington state abolished aerospace industry tax breaks that largely benefited Boeing.

EU urges US to solve trade disputes after aircraft tariffs kept unchanged

"The EU believes that both sides should now build on this decision and intensify their efforts to find a negotiated solution to the ongoing trade irritants"

Dismiss Big Tech's challenge to social media order, Trump admin asks court

The lawsuit was brought in June by the Center for Democracy and Technology (CDT), a Washington-based tech group funded by Facebook Inc , Alphabet Inc's Google and Twitter Inc

Moderna shares jump on $1.5 billion US contract for Covid-19 vaccine

The United States and Moderna announced the agreement for 100 million doses of its potential Covid-19 vaccine late on Tuesday

Covid-19: Britain enters recession as GDP tumbles 20.4%, worst in Europe

Brace for more job losses, says Sunak

Almost all oil removed from damaged Japanese ship, says Mauritius' PM

"At the time I'm talking to you, almost all the oil has been removed from the ship," Pravind Jugnauth told reporters, according to remarks shared by his office

Shell eyes stake in Nayara's $9 bn Indian petrochemical project: Report

Global oil majors are looking at expanding foothold in the vast Indian market, where local refiners are investing billions of dollars to boost their petrochemical capacities

US economy does not need big dose of Covid-19 stimulus: White House adviser

"The numbers are coming in very, very nicely," National Economic Council Director Larry Kudlow told Fox Business Network

Explained: UN to vote on extending arms embargo on Iran. What's at stake?

The United Nations Security Council imposed an arms embargo on Iran in 2007 which is due to expire in mid-October

Slowdown to continue as states announce more curbs: Fed official

Consumer spending is likely to say low relative to the past as people avoid activities that require high levels of social interaction for health reasons, Rosengren said

Wall Street jumps, S&P 500 crawls towards record high on stimulus hopes

US Treasury Secretary Steven Mnuchin said the White House and top Democrats in Congress may not be able to reach a deal on coronavirus aid

OPEC trims oil demand in 2020; recovery doubtful in 2021 on Covid-19

World oil demand will fall by 9.06 million barrels per day (bpd) this year, the Organization of the Petroleum Exporting Countries said in a monthly report

US executive order only affects WeChat, not other businesses, says Tencent

He added that the firm's WeChat app that is being targeted in the US was different from Weixin, the Chinese name its app is known by in China

Saudi Aramco plans further spending cuts to pay for dividend: Report

The report says the new level of capital spending is largely dedicated to the state-owned group's exploration and production business and will hold for the next three years